- Global equity markets given up a large portion of their yesterday gains
- U.S. Cases of coronavirus Surpass 1,000
- US500 trades in the middle of the range
The number of infected cases globally neared 120,000 on Wednesday. Outside China the most serious situation is in Italy where more than 10,100 cases have been reported. US is another country where the total number of cases surpassed 1,000.
US indices fell sharply today after 5% gains on Tuesday. Yesterday gains were driven by hopes that US president would meet with the Congress to discuss major fiscal measures. However today the markets seem to be impatient about the lack of details from President Trump’s administration regarding promised fiscal stimulus. To make things worse the American presidentt refused to test for coronavirus after it was confirmed that he had contact with an infected person.
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Open account Try demo Download mobile app Download mobile appAmerican currency declined as well due to ongoing uncertainties regarding the fiscal stimulus and coronavirus outbreak. US dollar weakened significantly against Japanese yen and New Zealand dollar.
Inflation data from the US came slightly better than market expectations.
The interest rate on the benchmark 30-year fixed-rate mortgage dropped 10bps to 3.47% and is at the record low as the coronavirus outbreak causes bond yields tumbling.
S&P500 (US500) is still trading in the consolidation area between 2904.6pts and 2722.2pts. If negative sentiment persist on the markets then the bears may try to break below the resistance level at 2722. Source:xStation5
Cloudera (CLDR.US) shares rises 9.8% in post market trading as the company’s expects higher earnings per share in 2021. Adjusted EPS 25c to 29c, estimate $0.0. Company sees first quarter revenue at $207 millions which beat the highest estimates.
Cloudera (CLDR.US) share price is testing local resistance level at $7.81. I f the positive bias remains shares might move up towards recent peaks at $12.24. The local resistance is located around $4.93 level. Source:xStation5
Share price of Vivint Solar (VSLR.US) drops rapidly after the adjusted loss for the fourth quarter was wider than expected. Companys share price fell 11% after the close of the trading session.
Vivint Solar (VSLR.US) reached strong resistance level at $9.52. If the market makes a move below this level then the price could extend the downward move towards next level of support at $7.92. Source:xStation5
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